According to Lipper, Amundi reported net fund sales of €4.7bn, ahead of Goldman Sachs’ €3.8bn and JP Morgan’s €3bn figures over the month.
Deutsche Asset & Wealth Management was the best-selling fund group for bond funds in August, with €900m of net sales.
BlackRock topped the table for equity funds with €1.7bn and Investec was the top group in mixed asset, with a net sales figure of €400m.
Overall European asset managers posted net monthly outflows of €36.5bn from long-term mutual funds.
Alternative or hedge-style UCITS products took in €3.4bn of assets – the top-seller of the long-term investment strategies.
This was followed by ‘other’ funds’ €1bn and commodity funds’ €500m of net sales. In spite of the popularity of mixed asset funds across Europe in recent years, the category still saw outflows last month, to the extent of €300m.
But equity funds saw more significant losses, with estimated net outflows of €23.1bn while bond funds lost net assets of €18.4bn.
While the major asset classes missed out, unsurprisingly, money market products – often viewed as ‘safer haven’ – saw net inflows of €18.6bn.
The single fund market with the highest net inflows for August was France, which reported €7.8bn of net inflows, followed by the Netherlands’ €1bn and Spain’s €300m.
Falling away by comparison, Luxembourg suffered the worst net outflows, losing €9.1bn, with Germany losing €6.3bn and the UK €4.7bn in the month.
